Bitcoin Forum

Is this the start of a recovery or a bull trap?

I'd hope for the first but I'm still confused...

make a vote out of it!

This has been a major fall and there seems to be no sign of the depression stage of a bust, on top of this the population of bitcoin investors has a large ideological component creating excess bullish tendencies. These two things suggest to me that there should be a bull trap at some point and that this is possibly it.

I wouldn't worry about buying back in quick, wait for the depression stage when you can be more comfortable with your choice. If it stabilizes before then it'll cost you maybe 10% to buy in later. If not you'll profit from a lower price and no loss due to a fall.

Recovery.  8)

Only time will tell.

Never being in with what one couldn't afford to lose in the first place, combined with never selling bitcoin for fiat, is a strategy that has worked OK for me so far. It mightn't be the perfect equity strategy, but it mitigates most of the market volatility risk.

There is no bull or bear. Only Bitcoin or fiat.

Make your choice.

What if it was a bear trap?

im just happy i had a buy order set at $190 ;D a couple days ago

I have yet to see a bull trap in bitcoin, looking back at the past 4 years it looks like one big bear trap :-)

When you look back in a few weeks while we're sitting at $500/BTC you'll see that we just left a bear trap.

We got world press attention remember. How the press takes this second DDos / crash will have a lot to say about market adoption speed in the near future. Stunt's like this need to be dealt with publicly the following days!

It's no longer fun and games!

I already did, and it's Bitcoin.

I like speculating and playing with the markets though...
 
Thanks! It's what I think I'll do :)

The sentiment about Bitcoin is positive from what I see, though :)

We are in a picture-book bull trap right now.

depends on what happens next. If you're convinced of it being a bulltrap, sell your coins? :-)

The positive sentiment is what scares me. :)

I agree, not sure on timings though. Up to a couple of days i guess. What are your views?

Definitely recovery, but probably not a stable one!

Dead Cat Bounce.

Oh, and expect everyone to tell you the opposite of what they really think, in a vain attempt to steer you in a direction that they believe will benefit them.

No one knows. I'll be taking profits from the crash soon and staying out until the market figures out a direction.

a retest of the lows will tell us more .... patience ..


till now it looks like  pot. selling climax ...

I need to make a repository of favourite forum quotes....

I know people post this image way too much, but it has been very accurate so far.

http://www.marketoracle.co.uk/images/2009/Mar/Money-Week_clip_image001.jpg

If Mt.Gox lag keeps increasing this will definitely be a bull trap.

^

Hope so. I want double digits. Damnit.  ;D

It's starting to look a lot like the bull trap I feared :(

Now leaving Fear, headed for Capitulation.

Yeah, but I think the low will be around $100. We'll probably hit double digits and then bounce right back up.

200+ prices were based on the exuberance of buyers that flocked here to cash in on some never-ending increase in value. We won't see that again until the strong hands and institutions really support it. Price will still mainly be floated by speculation, but not nearly what we were at.

If i had to take a guess, I can predict settling just above 100 for a while and creeping up more cautiously than before

(Poll added :) )

Now two questions!

1: WTF? Another bull trap? or what?

2: proudhon, where are you??

Easy.  Bull trap.

I don't know where the bottom is. I threw out $75 during the height of the madness, but will accept anything below $150. I want at least two weeks of stability, but with Bitcoin, anything can happen.

Oh proudhon! You came as I called!

I am honored to have you as a guest in this thread :)

Thank you!

Anyway, to be honest and open, atm I'm in a hold-and-wait state, with a pretty small sell off to cover possible losses ordered at about 195$ and a slightly bigger failsafe at 145$

Edit: failsafe hit :/

This is so funny there was actually a bull trap  ;D

I wonder when people will get into the fear stage.

That's quite a sizeable bull trap.  It dropped $50.

Clearly this thread is a Bear trap :)

It's a way to make or lose money with clever (or not) daytrading...  ;D

BTC or Fiat? Fascinating. But, I have chosen: more BTC  ;) As soon as the bubble has really burst.

proudhon didn't use the phrase "single digits", so there's more downside to come

Biggest bull trap bro.

 ::) ;)